Quick facts: Gatesville, TX

Quick Facts

99.5
Cost of Living
below US average
16,198
Population
9.45
Crime Rate per 1000
below US average
$46,536
Median Income
below US average
$250,000
Median House Price
above US average
$1321.1
Average Rent
below US average
12%
Poverty Rate
above US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $46,536.

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Income Needed to Buy

βœ— Stretch
$78k/year
Based on $250,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $78k vs median $46,536
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Income Needed to Rent

⚠ Stretch
$57k/year
Based on $1321.1/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $57k vs median $46,536
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Gatesville, TX

Gatesville, Texas, is a small city situated in Coryell County, known for its rich history and community spirit. With a population of around 3,400 residents, it offers a friendly, small-town atmosphere. The city is located southwest of Waco and is connected by major highways, making it accessible while still maintaining its quaint charm. Historically, Gatesville has a strong connection to the Texas military and is home to several historic sites, including the Gatesville Historic District, which showcases beautiful architecture and heritage. The city's economy is primarily driven by agriculture and local businesses, reflecting its rural roots. Outdoor enthusiasts can enjoy activities such as fishing and hiking in the nearby parks and natural areas. The community hosts various events throughout the year, fostering a sense of camaraderie among residents. Local amenities include schools, shopping, and dining options, providing a comfortable living environment. Overall, Gatesville combines small-town appeal with a strong sense of community, making it an inviting place to live or visit.

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